New Jersey casino revenues lift struggling poker vertical
Casino climbs 30% to $18.5m but poker dips 6% to $2m
New Jersey posted a 25% rise in online revenues in September, as the sector made up 10% of all Atlantic City gaming revenue for the first time.
Online revenues reached $20.4m, with online casino up 30% to $18.5m, and poker down 6% to $2m, although the recent liquidity-sharing deal could help the stuttering vertical.
“It’s a staggering total for such a young industry,” said Steve Ruddock, lead analyst for PlayNJ.com. “The bottom line is that legal online gambling has become an incredibly competitive market with many winners, and that has undoubtedly been a boon for New Jersey.”
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The Golden Nugget and its licensees continued to lead the market, with revenues of $5.7m up 56% year-on-year. The Borgata also posted a strong September, growing 25% to $4.2m.
Resorts came in third in the market with revenues of $3.6m, followed by Tropicana and Caesars Interactive at $3.4m.
“This isn’t just luck. Business is building,” Matthew B. Levinson, chairman and chief executive officer of the Casino Control Commission, said.
“Every internet operation was up for the first nine months of this year.”